Sterling eases off after BoE rollercoaster [Reuters]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Reuters
Sterling eases off after BoE rollercoaster LONDON Sterling traded slightly below $1.27 on Thursday, investors treading water after a split at the Bank of England over monetary policy added further uncertainty to the outlook for Britain's economy as it leaves the European Union. Barely a week after three members of the central bank's eight-strong rate-setting committee voted to hike record low interest rates, two of the Bank's top officials gave opposing signals on the Bank's stance towards interest rates. Governor Mark Carney in a speech on Tuesday said it was not the right time to raise interest rates, while the Bank's chief economist Andy Haldane separately said he expected to vote for a rate rise later this year. Sterling weakened almost 1 percent after Carney's comments, but was bumped higher after Haldane spoke on Wednesday, recovering to as much as $1.2704. It traded 0.1 percent lower on the day at $1.2661 and 88.16 pence per euro on Thursday. "For me the reversal yesterday on
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- CM's page on the SEC website